Chevron posts largest quarterly profit ever, Exxon income surges as Iran war squeezes oil supply The Big Oil giants are taking home near-record profits from high oil and fuel prices worldwide. Fortune · Jul 31
Don’t Buy Stock in That SpaceX-Tesla Merger Just Yet, Says CEO Elon Musk — ‘Absurdly Fake News’ The chief executive shot down reports that claimed Tesla is getting ready to carve out its China business. Barchart · Jul 31
Japan’s new intelligence bureau is here; Why Tokyo is rethinking how it deals with China, Russia and North Korea Japan is launching a new National Intelligence Bureau to centralize its intelligence gathering. This significant reform addresses growing security threats from China, Russia, and North Korea. The bureau will coordinate information from various government agencies for better analysis. Japan also considers stronger counterespionage laws and a potential foreign intelligence service.… The Economic Times · Jul 31
Asian shares revive as AI spending anxiety eases RECAP: Asian markets rallied yesterday following gains on Wall Street, with South Korea's battered market making a record comeback, stirring hopes that the recent selloff in AI-linked assets may be near an end. Bangkok Post · Jul 31
Enter the dragon: Delhi Brics meet can stage a historic handshake Xi Jinping's potential visit to India for the BRICS Summit is generating significant international attention. This meeting would mark a third encounter between Prime Minister Modi and President Xi in under two years. Such high-level engagement suggests a move towards sustained dialogue and stable management of differences. India's strategic autonomy… The Economic Times · Jul 31
China Just Gave Sandisk Stock Investors a New Reason to Worry The pullback in SNDK stock reflects growing fears that China’s memory industry could eventually end the shortage that fueled Sandisk's historic rally. Barchart · Jul 31
Ford CEO Thinks Chinese EVs Could Hit The U.S. Within 5 To 10 Years: Report Ford's CEO and other executives reportedly said its employees that Chinese EVs are headed to the U.S. within the next five to 10 years. InsideEVs · Jul 31
China And The U.S. Are Clashing In The AI Race. Beijing's Military Is Reportedly Using American Models to Train Its Defense Systems According to a Reuters review of over 80 Chinese academic papers and patents, documents linked to the People's Liberation Army (PLA) reveal widespread use of a technique known as "model distillation." International Business Times · Jul 31
Cosplayers perform and pose at ChinaJoy gaming festival Cosplayers in elaborate costumes gather at ChinaJoy in Shanghai, where gaming fans meet characters inspired by popular video games. Euronews · Jul 31
Chinese man didn't invite his mother to his wedding because he was ashamed of her looks; boss fired him and gave her the job A company founder in China has sparked debate after revealing he fired an employee who refused to invite his mother to his wedding because he was ashamed of her appearance. The businessman later offered the employee's mother a job. The incident has divided opinion over workplace values, family responsibility and… The Times of India · Jul 31
China Helps Iran Plus: Baby bust affects college enrollment, migrants flood into Spain, I'm writing a book, and more... Reason · Jul 31
Everyone’s Focused on China—But That’s Not ASML’s Biggest Risk ASML shares fell after a Chinese rival unveiled DUV lithography machines, but the firm's EUV monopoly, growing backlog, and rising guidance suggest limited near-term threat. MarketBeat · Jul 31
First Thing: Top Democrats accuse Republicans of becoming ‘gelatinous blobs’ on Iran war Senators Warren and Van Hollen attack Republican ‘rubber stamps’ in Congress for surrendering authority to Trump. Plus, could AI take your job? Some workers in China already know the answer The Guardian - UK · Jul 31
India, China bore one-third of global 'bad' cholesterol burden in 2023: Study High LDL cholesterol caused 3.6 million deaths globally in 2023. India and China bore one-third of this worldwide disease burden. The number of adults with elevated LDL-C levels significantly increased since 1990. Statins remain crucial for management but face underuse and access barriers. Strengthening primary healthcare and diagnostics is essential… The Economic Times · Jul 31
Motor1 · Jul 31 BMW To Slash 8,000 Jobs, Mostly German Office Roles Pressure from Chinese EV rivals and weak China demand push BMW to trim 8,000 roles via German white‑collar buyouts while protecting factory jobs.
Evening Standard · Jul 31 Residents lose High Court battle against Government on new Chinese mega-embassy in London Legal ruling comes after Government gave approval for new Chinese embassy despite fears that it will be turned into a huge spying centre
Caixin Global · Jul 31 Business Brief (July 31): GPU Prices Spike as AI Demand Strains Supply China denies reports of supplying missiles to Iran; EU issues preliminary anti-dumping ruling on Chinese sodium benzoate
The Times of India · Jul 31 A 245-million-year-old marine reptile fossil in China preserves a rare digestive tract, possible liver traces and remains of its last fish meal A 245-million-year-old marine reptile fossil shows an intact digestive tract. This ancient Austronaga minuta fossil offers rare insights into early reptile digestion. Its simple stomach suggests complex digestive systems evolved later in archosaur history. The reptile's body showed adaptations for aquatic life, unlike prior beliefs. This discovery enhances understanding of…
The Economic Times · Jul 31 Pakistani rescuers find 4 bodies of the 10 climbers missing on Broad Peak after an avalanche Rescuers found four bodies after an avalanche struck Broad Peak on Friday. They continue searching for six other climbers despite adverse weather conditions. The climbers lost contact with their base camp after the avalanche hit the mountain. The expedition included climbers from Nepal, Pakistan, Oman, America, and China. Accidents are…
The Economic Times · Jul 31 Quote of the day by Benjamin Franklin: 'Glass, China, and Reputation, are easily crack’d, and never...' Life lessons on trust, character and the price of losing your good name from America's founding thinker Quote of the Day by Benjamin Franklin: Benjamin Franklin's quote highlights how easily a reputation can be damaged. Trust and credibility are built gradually through consistent honesty and integrity, but a single mistake can quickly undo years of earned respect. His wisdom remains relevant today, reminding us to protect our…
The Economic Times · Jul 31 What is AI model distillation and why is it becoming a US-China flashpoint? Long regarded as a standard tool of AI research, distillation is now at the centre of a growing dispute over whether advanced AI capabilities can be transferred without the consent of the companies that created them. Washington and leading US AI firms have accused Chinese rivals of using the technique…
The Economic Times · Jul 31 What is model distillation? The AI technique at the centre of the US-China technology battle Model distillation, a technique that trains smaller AI models using outputs from more powerful systems, has become a key issue in the US-China AI rivalry. While it lowers AI costs and expands deployment, US companies allege some Chinese firms are using the method to extract capabilities from proprietary models without…
Benzinga · Jul 31 Elon Musk Dismisses Report Tesla Could Sell Chinese Business for SpaceX Merger: 'Absurdly Fake News' Tesla Inc. (NASDAQ:TSLA) CEO Elon Musk has dismissed reports of the EV giant mulling the sale of its Chinese arm that could have reportedly paved the way for a potential merger with Space Exploration Technologies Corp. (NASDAQ:SPCX).
The Economic Times · Jul 31 China school canteens turn food waste into biodiesel, compost with this smart machine; watch video A novel system in Chinese school canteens processes leftover food into valuable resources. Students deposit food scraps into specialized machines after finishing their meals. The system extracts oil for biodiesel production and converts organic waste into compost. This innovative approach repurposes discarded food, reducing landfill waste significantly. The process creates…
The Economic Times · Jul 31 Global Market: Chinese tech stocks surge as AI optimism returns, policy support lifts markets Chinese technology stocks rallied sharply on Friday, mirroring global markets. Investors regained confidence as the artificial intelligence sell-off appeared to ease. Policy support for innovation boosted sentiment, though major indexes faced steep monthly declines. Factory activity unexpectedly slipped into contraction, reflecting weaker domestic demand. Trade discussions continued as leaders prepare…